Investors pull another $2.7 billion out of stocks

The flight out of U.S. stocks continued last week, with investors yanking $2.7 billion of domestic stock mutual funds.

The retreat from the U.S. stock market continued last week, as investors refrained from making any big bets amid the market's summer doldrums.

Another $2.7 billion was pulled from U.S. stock market mutual funds during the week ended Aug. 15, according to the Investment Company Institute, bringing the 2012 outflow total to more than $69 billion. By comparison, those funds lost in the neighborhood of $40 billion during the first seven months of 2010 and 2011.

While stock mutual funds have been bleeding money, investors have shown a voracious appetite for bonds, which are considered safe haven investments. In fact, bond funds raked in $7.2 billion last week, the most since early April, according to ICI data.

Hibah Yousuf is a reporter at CNNMoney, where she covers stocks, bonds, commodities and currencies trading across the globe, as well as corporate earnings and other markets-related news. Prior to joining the site in 2009, she interned at Money Magazine.